Selling an inherited coin collection.

First — slow down

The number-one rule for inherited collections: don’t do anything fast. Don’t clean coins (please — see why not), don’t sort them, don’t take them out of any holders, and don’t hand them to the first buyer who calls. The collection has been sitting safely for years or decades; it will keep until you have a plan.

What to do in the first week

1. Secure the collection. Move it to a safe, a locked drawer, or a safe deposit box — wherever it’s out of sight. Estate items go missing in transitions; don’t let coins join that list.
2. Take wide-shot photos. A few phone photos of every album page, box, and binder — even if you don’t know what you’re looking at. This is your inventory record and the basis of any remote appraisal.
3. Find any paperwork. Old auction tags, dealer receipts, grading slips (the white plastic “slabs” from PCGS / NGC), insurance riders, prior appraisals. Set it aside; don’t throw any of it out.
4. Notify the estate attorney, if there is one. Some estates require an appraisal at fair-market value as of the date of death (the “stepped-up basis”). We can provide a written appraisal letter on dealer letterhead suitable for probate.

Get a real appraisal — preferably two

Free, no-obligation appraisals from working numismatists are the right starting point. We do this every week for inherited collections, often working from photos alone for the initial range and then in person or via insured mail for the final offer.

Getting one or two independent appraisals is healthy. Getting five becomes a job in itself — and most reputable dealers will be in the same ballpark for legitimate coins. Wildly different numbers are usually a sign that one of the appraisers is wrong, not that the market is split.

Should you split the collection among heirs?

It’s tempting, but usually a mistake. The collection’s appraised value reflects its sum, not its parts. Splitting tends to:

• Break up sets, which reduces their market value.
• Leave heirs with coins they don’t know how to sell, often years later for less.
• Strain relationships (everyone thinks they got the lesser pile).

Cleaner approach for most families: get a single fair appraisal, sell the collection as one, divide the cash. Everyone gets the same thing, no one has to learn numismatics.

Tax basics (not advice)

When inherited assets are sold, U.S. tax rules generally use the stepped-up basis — the value on the date of death. If you sell soon after for roughly that value, there’s often little or no taxable gain. Collectibles also have their own capital-gains rules, and rules vary by state.

None of that is tax advice; talk to a CPA before any large sale. A written appraisal at date-of-death value is useful for that conversation. We provide them on dealer letterhead at no cost.

Mistakes that cost real money

• Cleaning “dirty” coins. The single most expensive mistake. Cleaning can cut value by 30–70%.
• Breaking coins out of slabs. The PCGS or NGC certification adds value; the moment the holder is opened, that value evaporates.
• Selling to the first cold-caller. Pressure to decide quickly is a red flag. Reputable buyers wait.
• Listing on eBay without knowing what you have. Easy way to give away a $2,000 coin for $40 — and refunds are not fun.

Working with us specifically

We do inherited collections every week. For most families the flow looks like this:

1. You send photos or call. A specialist replies within one business day.
2. We give an initial value range and walk you through what’s there.
3. For smaller collections, we send a fully insured shipping kit at no cost. For larger collections, we travel.
4. We provide a written appraisal letter (free, on letterhead) — useful for probate, for heirs, and for your own records.
5. You decide whether to accept the offer, take a different path, or do nothing. There’s no obligation either way.